Last week AVentures Capital, a major early-stage venture capital fund based in Ukraine, announced an investment of an undisclosed amount in TeamFusion. This Los Angeles-based B2B startup delivers “simple, effective and highly personalized” staff training to companies using Microsoft Office 365. TeamFusion is one of only 11 US organizations which Microsoft presents a “top strategic software partners” for the Office 365 ecosystem. The startup operates internationally, but has its R&D and content development offices as well as a substantial customer base in Ukraine.
Commenting on the deal, Mark Woodward, TeamFusion’s executive director, noted that operating in Ukraine allows the company to scale its team and fuel its overall growth “thanks to the great local talent.” “Currently we are in the process of nearly doubling our Ukrainian operations, which will help us continue to deliver exceptional value to a portfolio of customers that includes organizations such as Microsoft, SYNNEX, GE, and Atea,” Woodward said.
“We are happy to support a company with an R&D office in Ukraine. The key factor for our decision to invest was the team, its founders, and the startup’s global focus,” commented Andrey Kolodyuk, Managing Partner of AVentures Capital. “With our investment we hope to boost company’s development in Ukraine and worldwide,” he added.
Founded in 2012, AVentures Capital focuses on global companies with R&D capacities in Ukraine and Central and Eastern Europe. The fund is interested in software, e-commerce, cloud services, mobile technology, IoT. This past September, AVentures Capital invested $500,000 in California-based Spinbackup, a startup which has developed a cloud data protection technology.
